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International portfolio diversification with generalized expected utility preferences
Aizenman, Joshua - 1997
Persistent link: https://www.econbiz.de/10000625187
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International portfolio diversification with generalized expected utility preferences
Aizenman, Joshua - In: The Canadian journal of economics 32 (1999) 4, pp. 995-1008
Persistent link: https://www.econbiz.de/10001409472
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International Portfolio Diversification with Generalized Expected Utility Preferences
Aizenman, Joshua - 2008
. We show that agents who maximize a GEU exhibit first order risk aversion and tend to refrain from di- versification in … risk aversion increases the threshold of yields leading to diversification, shifting the cone of diversification upwards … given domestic yield. Ceteris paribus, greater downside risk aversion reduces the feasible hetero- geneity of normalized …
Persistent link: https://www.econbiz.de/10012774958
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International Portfolio Diversification with Generalized Expected Utility Preferences
Aizenman, Joshua - 1997
. We show that agents who maximize a GEU exhibit first order risk aversion and tend to refrain from di- versification in … risk aversion increases the threshold of yields leading to diversification, shifting the cone of diversification upwards … given domestic yield. Ceteris paribus, greater downside risk aversion reduces the feasible hetero- geneity of normalized …
Persistent link: https://www.econbiz.de/10012472856
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Modeling deviations from purchasing power parity (PPP)
Aizenman, Joshua - 1984
Persistent link: https://www.econbiz.de/10000688163
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Sectorial wages and the real exchange rate
Aizenman, Joshua; Frenkel, Jacob A. - 1986
Persistent link: https://www.econbiz.de/10000689829
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Relative price levels and current accounts : an exploration
Aizenman, Joshua - In: Dae oe gyeong je yeon gu 12 (2008) 2, pp. 3-33
Persistent link: https://www.econbiz.de/10003796541
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Relative price levels and current accounts : an exploration
Aizenman, Joshua - 2008
This paper studies the links between current accounts and relative price levels, finding that current account changes are associated with sizable future relative price levels effects. This is done in panel regressions of the Penn effect, adding a lagged current account/GDP and other explanatory...
Persistent link: https://www.econbiz.de/10003854902
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Real exchange rate, mercantilism and the learning by doing externality
Aizenman, Joshua; Yi, Chae-u - In: Pacific economic review 15 (2010) 3, pp. 324-335
Persistent link: https://www.econbiz.de/10008701710
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The real exchange rate, mercantilism and the learning by doing externality
Aizenman, Joshua; Yi, Chae-u - 2008
"This paper examines the degree to which the learning by doing externality [LBD] calls for an undervalued exchange rate, a policy suggested by recent empirical studies which concluded that mildly undervalued real exchange rate may enhance growth. We obtain mixed results. For an economy where LBD...
Persistent link: https://www.econbiz.de/10003681919